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Guru Stocks Raising Dividends: LOW, ELRC, HT, MCRL, DEI

June 05, 2011 | About:
gururk

gururk

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This is the group of companies who raised their dividend during the week: Lowe’s Companies, Inc., Electro Rent Corporation, Hersha Hospitality Trust, Hersha Hospitality Trust Douglas Emmett, Inc., and Micrel Inc.

Lowe's Companies Inc. (LOW)

Lowe's Companies Inc. is a retailer of home improvement products in the world, with specific emphasis on retail do-it-yourself and commercial business customers. Lowe's Companies Inc. has a market cap of $30.85 billion; its shares were traded at around $23.4 with a P/E ratio of 16.3 and P/S ratio of 0.6. On May 27, the company increased its quarterly dividend 27% $0.14 per share. The dividend is payable Aug. 3, 2011, to shareholders of record as of July 20, 2011. Lowe’s has declared a cash dividend each quarter since going public in 1961. The yield based on the new payout is 2.3%.

Lowe’s Companies Inc. reported net earnings of $461 million for the quarter ended April 29, 2011, a 5.7 percent decrease from the same period a year ago. Diluted earnings per share of $0.34 were flat compared to the first quarter of 2010. Sales for the quarter decreased 1.6 percent to $12.2 billion from $12.4 billion in the first quarter of 2010. Comparable store sales for the first quarter decreased 3.3 percent.

Richard Perry, Tom Gayner, and Ruane Cunniff own shares of Lowe’s stock.

EVP Merchandising Robert J. Jr. Gfeller, EVP Logistics and Distribution Joseph Michael Jr. Mabry, and EVP Merchandising Robert J. Jr. Gfeller sold shares of Lowe’s stock.

Electro Rent Corp. (ELRC)

Electro Rent Corporation primarily engages in the rental, lease and sale of state-of-the-art electronic equipment. Electro Rent Corp. has a market cap of $350.1 million; its shares were traded at around $14.6 with a P/E ratio of 17.2 and P/S ratio of 2.4. On June 2, the company increased its quarterly dividend 33% to $0.20 per share. The dividend is on July 8, 2011, to shareholders of record as of June 20, 2011. The yield based on the new payout is 5.5%.

Electro Rent Corporation reported a 136.0% increase in net income on an 80.0% increase in total revenues for its third fiscal quarter ended Feb. 28, 2011, compared with the third quarter of the prior fiscal year. Total revenues for the fiscal 2011 third quarter advanced to $59.5 million, from $33.0 million for the same period last year. Net income grew substantially to $5.1 million, or $0.21 per diluted share, for the fiscal 2011 third quarter, from $2.2 million, or $0.09 per diluted share, for the fiscal 2010 third quarter.

Private Capital owns shares of Electro Rent stock.

Hersha Hospitality Trust (HT)

Hersha Hospitality Trust is an entrepreneurial, high-growth real estate development and management company focused on the hospitality industry. Hersha Hospitality Trust has a market cap of $964.8 million; its shares were traded at around $5.7 with a P/E ratio of 15.8 and P/S ratio of 3.4. On June 1, the company increased its quarterly dividend 20% to $0.06 per share. The dividend is payable July 15, 2011 to holders of record as of June 30, 2011. The yield based on the new payout is 4.1%.

Hersha Hospitality Trust announced results for the first quarter ended March 31, 2011. For the first quarter ended March 31, 2011, net loss applicable to common shareholders improved $1.2 million to $14.6 million, compared to a net loss of $15.8 million for the comparable quarter of 2010.

CEO Jay H. Shah, CFO Ashish R. Parikh, and Director, 10% Owner Eduardo S. Elsztain sold shares of Hersha stock.

Micrel Inc. (MCRL)

Micrel Inc., is a global manufacturer of IC solutions for the worldwide analog, ethernet and high bandwidth markets. Micrel Inc. has a market cap of $702.1 million; its shares were traded at around $11.33 with a P/E ratio of 14.1 and P/S ratio of 2.4. On May 31, the company increased its quarterly dividend 14.3%. The new quarterly dividend rate of $0.04 per common share will be effective for the next dividend that is expected to be paid in the third quarter of 2011. The yield based on the new payout is 1.5%.

Micrel Inc. announced financial results for the first quarter ended March 31, 2011. First-quarter revenues of $67.5 million decreased by $8.1 million, or 10.8%, from $75.6 million in the fourth quarter of 2010. First-quarter 2011 GAAP net income of $9.1 million, or $0.14 per diluted share, compares to fourth-quarter 2010 GAAP net income of $13.7 million, or $0.22 per diluted share, and GAAP net income of $9.7 million, or $0.16 per diluted share in the same period in 2010. First quarter 2011 non-GAAP net income of $9.9 million, or $0.16 per diluted share, compares to fourth quarter 2010 non-GAAP net income of $14.5 million, or $0.23 per diluted share, and non-GAAP net income of $10.4 million, or $0.17 per diluted share in the same period in 2010.

Joel Greenblatt owns shares of Micrel stock.

CFO and VP Finance Ray Wallin, VP WW Operations and Foundry James Guy Gandenberger, and VP Analog Marketing Andy Cowell sold shares of Micrel stock.

Douglas Emmett Inc. (DEI)

Douglas Emmett Inc. is a fully integrated, self-administered and self-managed real estate investment trust and one of the largest owners and operators of high-quality office and multifamily properties located in premier submarkets in California and Hawaii. Douglas Emmett Inc. has a market cap of $2.55 billion; its shares were traded at around $20.53 with a P/E ratio of 15.2 and P/S ratio of 4.5. On May 31, the company increased its quarterly dividend 30% to $0.13 per share. The dividend is payable on July 15, 2011, to shareholders of record as of June 30, 2011. The yield based on the new payout is 2.5%.

Douglas Emmett Inc. announced its 2011 first quarter financial results for the period ended March 31, 2011. Funds From Operations (FFO) for the three months ended March 31, 2011, totaled $64.4 million, or $0.41 per diluted share, compared to $48.1 million, or $0.31 per diluted share, for the three months ended March 31, 2010. For the three months ended March 31, 2011, the company reported a GAAP net loss of $349,000 attributable to common stockholders, which rounds to $0.00 per diluted share. This compares to a GAAP net loss of $8.3 million, or $0.07 per diluted share, attributable to common stockholders for the three months ended March 31, 2010.

Rating: 2.8/5 (5 votes)

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